Guyana Steps Up Its BPO Play with Multi-Million Dollar Bet on Corporate Campuses

Guyana is making a big push to attract foreign contact centers to its territory. 

Guyana’s government is gearing up to build two massive BPO campuses with an investment of US$2.8 million in Region Five (Mahaica-Berbice).

These new facilities will house dozens of call center companies, providing them with amenities such as high-speed Internet. It is estimated that both campuses could generate up to 15,000 jobs.

Guyana may look like a small competitor when compared with Caribbean peers such as Jamaica and the Dominican Republic. However, the country has been making giant economic strides in recent years.

Fueled by an oil boom, Guyana’s GDP surged by a staggering 38% last year. This windfall bolstered government reserves, allowing the country to reinvest in other sectors and create much-needed jobs for young graduates.

Would you have guessed that #Guyana would be named the fastest-growing #economy in 2022 by the @IMF? Looking at the big picture, Indian GDP growth is also still doing well on a global scale and the country is expected to surpass Japan as Asia's second-largest economy by 2030. pic.twitter.com/BsuT7FAi2n

— Statista (@StatistaCharts) October 13, 2022

The strategy is paying off handsomely. Decipher Health Records, a Bangalore-based BPO, is set to launch operations in the country later this month. 

“We’re hopeful of seeing at least three to four new entrants in Guyana’s BPO sector by year-end,” stated Peter Ramsaroop, head of GO Invest, Guyana’s investment promotion agency, in a phone interview with Nearshore Americas.

Teleperformance –the world’s largest customer service provider– increased its Georgetown call center capacity by 6,000 square feet.

Jamaican BPO provider itel committed US$4 million towards business expansion in Guyana, aiming to create thousands of new call center agent positions. 

Additionally, domestic firm Midas BPO recently commenced operations at its new campus in Linden, a thriving town located along the Demerara River in the country’s northeast.

We’re hopeful of seeing at least three to four new entrants in Guyana’s BPO sector by year-end—Peter Ramsaroop, Chief Investment Officer & CEO at Go Invest

Ramsaroop revealed that GO Invest is in talks with several international BPO companies operating in the neighboring Dominican Republic.  

“Many of them are keen to expand into Guyana, as DR is more suited to Spanish-speaking markets,” he said.

Guyana is also focusing on attracting investments in other sorts of business processing services, including accounting and back-office operations.

This diversification strategy has already led to partnerships with major US corporations like Walmart, Uber and Amazon, who are increasingly relying on Guyana for essential back-office support.

English-speaking talent

As a former British colony, Guyana boasts a significant English-speaking population, making it an attractive location for the global services industry.

In 2021, the government launched various training programs to equip young graduates with relevant BPO skills. Over 1,300 young individuals benefited from this initiative, receiving training in areas like word processing, robotics, networking and programming.

While there’s no recent data on the availability of trained personnel, specifically for the call center industry, the current BPO sector already employs around 7,000 individuals.

Guyana’s goal is to increase this figure to 50,000 within the next 20 months. The immediate challenge is to train enough graduates for the job. 

“We are open to help any BPO requiring assistance in acquiring talent,” Ramsaroop said. “We would also collaborate on providing necessary skill training.” 

Tax benefits

Guyana’s booming oil industry provided the government with the resources to invest heavily in infrastructure, creating a significant advantage for the BPO sector. This includes substantial tax benefits for foreign companies.

“Any company operating for more than a year can become qualified for a tax holiday,” explained Ramsaroop, highlighting the attractive fiscal environment.

Guyana has also made substantial strides in improving its telecommunications infrastructure. In 2019, the cost of Internet data was significantly higher, with one gigabyte costing between US$4 and US$7. Today, Internet plans are available for a fraction of that price. This dramatic reduction is attributed to the liberalization of the telecom sector, fostering competition among carriers.

This competition has not only benefited businesses but also consumers, as telecom companies are rolling out high-speed fiber optic cables nationwide to expand their customer base.